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By allowing for imperfectly informed markets and the role of private information, we offer new insights about observed deviations of portfolio concentrations in domestic relative to foreign risky assets, or home bias, from what standard finance models predict. Our model ascribes the bias to...
Persistent link: https://www.econbiz.de/10010286893
How will international integration affect welfare policies? This paper considers the possibilities of financing public sector activities (public consumption and social security expenses) by general (wage) taxation in an economy which becomes more integrated in international product markets. Even...
Persistent link: https://www.econbiz.de/10010262483
How does international integration affect the welfare state? Does it call for a leaner or an expanded welfare state? International integration may affect the distortions caused by welfare state activities but also the risks motivating social insurance mechanisms. This paper addresses these...
Persistent link: https://www.econbiz.de/10010262793
recent decades as a result of increased globalization of knowledge, technologies and economies. In particular I look at the … development in a number area where similar trends are observed. The areas studied include globalization, in-sourcing and …
Persistent link: https://www.econbiz.de/10005703160
This paper provides new estimates of the effects of ethnic network on U.S. exports. In line with recent research, our dataset is a panel of exports from U.S. states to 29 foreign countries. Our analysis departs from the literature in two ways, both of which show that previous estimates of the...
Persistent link: https://www.econbiz.de/10010267294
technological innovation also provides impetus to the progressive integration of the nations. The elements of globalization include … heterogeneity in the degree of globalization over time and across countries and regions of the World, as well as within countries …The process of globalization is an international economic order which has led to the progressive integration of the …
Persistent link: https://www.econbiz.de/10010267513
recent decades as a result of increased globalization of knowledge, technologies and economies. In particular I look at the … development in a number area where similar trends are observed. The areas studied include globalization, in-sourcing and …
Persistent link: https://www.econbiz.de/10010268174
globalization (1985-2005), there has been some convergence of business cycle fluctuations among the group of industrial economies …
Persistent link: https://www.econbiz.de/10010276108
significant impediment to growth but religious and linguistic heterogeneity have not. Further, while economic globalization has … more from global integration. This suggests the importance of globalization in redressing the detrimental impact of ethnic …
Persistent link: https://www.econbiz.de/10010282215
technology, globalization tends to lead to convergence. Moreover, under non-convex technology trade and migration tend to be …
Persistent link: https://www.econbiz.de/10010289941